CHICAGO (July
17, 2012) – Hyatt is proud to announce that
Davidson Hotels & Resorts is the recipient of Hyatt’s inaugural
North
American Full Service Strategic Partnership award. Davidson, a leading
U.S.-based hotel management company, is being recognized for its
notable
contributions to the development of Hyatt’s full service hotel
franchising
platform in North America. Davidson President and Chief Executive
Office John
Belden sits on Hyatt’s Franchise Owner Advisory Council.
“We are excited to announce Davidson Hotels & Resorts
as Hyatt’s first-ever recipient of the North American Full Service
Strategic
Partnership award,” said Chuck Floyd, chief operations officer for
North
America, Hyatt Hotels Corporation. “With its depth and breadth as a
management
company, Davidson has proven to be a valued collaborator as we continue
to grow
our North American full service franchise portfolio.”
Since 2009, the number of full service franchised
Hyatt-branded hotels in the U.S. has grown to 21 properties from 11.
Davidson
currently manages six full service Hyatt-branded properties under
franchise
agreements, including Hyatt Regency Princeton in Princeton, N.J.; Hyatt
Miami
at The Blue in Miami, Fla.; Hyatt North Houston in Houston, Texas;
Hyatt
Regency Suites in Palm Springs, Calif.; and Hyatt Regency Newport in
Newport,
R.I. Most recently, Davidson and Hyatt teamed up with Sunstone Hotel
Investors
to introduce Hyatt Chicago Magnificent Mile. Located just steps away
from the
world-class shopping of Chicago’s famed North Michigan Avenue, this
hotel will
soon be transformed by a multi-million dollar renovation. Davidson will
also be
managing The Wynfrey in Birmingham, Ala., which will be rebranded as
Hyatt
Regency Birmingham - The Wynfrey in late 2012 after undergoing an
extensive
renovation.
“Expanding our full service hotel presence in North
America is a critical component of our drive to enhance preference for
all of
Hyatt’s brands,”
said David Tarr, senior vice present of real estate and development,
Hyatt Hotels & Resorts. “We will accomplish this by expanding on
existing
relationships, like the highly valued one we have with Davidson, and by
developing new relationships with companies like Davidson that share
our
values.”
“We are thrilled with how our relationship has evolved
with the Hyatt team,”
said Belden. “The Hyatt name is truly world class and is
synonymous with quality, hospitality and premium performance.”
For more information, please visit hyattdevelopment.com.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a
leading global hospitality company with a proud heritage of making
guests feel
more than welcome. Thousands of members of the Hyatt family strive to
make a
difference in the lives of the guests they encounter every day by
providing
authentic hospitality. The Company's subsidiaries manage, franchise,
own and
develop hotels and resorts under the Hyatt®, Park Hyatt®,
Andaz®, Grand Hyatt®,
Hyatt Regency®, Hyatt Place® and Hyatt HouseTM. Hyatt House is
changing its
brand identity from Hyatt Summerfield Suites®. Hyatt Residential
Group, Inc., a
Hyatt Hotels Corporation subsidiary, develops, operates, markets or
licenses
Hyatt ResidencesTM and Hyatt Vacation Club®, which is changing its
name to
Hyatt Residence ClubTM. As of March 31, 2012, the Company's worldwide
portfolio
consisted of 488 properties in 45 countries. For more information,
please visit www.hyatt.com.
About
Davidson Hotels & Resorts
Davidson Hotels & Resorts is one of the
nation’s
largest independent hotel management companies, specializing in the
renovating,
repositioning and rebranding of hotels and resorts. With a portfolio
comprised
of 49 hotels and more than 14,200 rooms, Davidson’s strength remains in
providing each of its properties with the individualized service
characteristic
of an entrepreneurial company, enhanced by the breadth and depth of
skill that
accompanies nearly four decades of experience. Additional information
on
Davidson may be found at www.davidsonhotels.com.
Forward-Looking Statements
Forward-Looking
Statements in this press release, which
are not historical facts, are forward-looking statements within the
meaning of
the Private Securities Litigation Reform Act of 1995. These statements
include
statements about our plans, strategies, occupancy and ADR trends,
market share,
the number of properties we expect to open in the future, our expected
capital
expenditures, depreciation and amortization expense, interest expense
and
effective tax rate, estimates, financial performance, prospects or
future
events and involve known and unknown risks that are difficult to
predict. As a
result, our actual results, performance or achievements may differ
materially
from those expressed or implied by these forward-looking statements. In
some
cases, you can identify forward-looking statements by the use of words
such as
“may,” “could,” “expect,” “intend,” “plan,” “seek,”
“anticipate,” “believe,” “estimate,”
“predict,” “potential,” “continue,”
“likely,”
“will,” “would” and variations of
these terms and similar expressions, or the negative of these terms or
similar
expressions.
Such forward-looking
statements are necessarily based
upon estimates and assumptions that, while considered reasonable by us
and our
management, are inherently uncertain. Factors that may cause actual
results to
differ materially from current expectations include, among others,
general
economic uncertainty in key global markets, the rate and pace of
economic
recovery following economic downturns; levels of spending in business
and
leisure segments as well as consumer confidence; declines in occupancy
and
average daily rate; our ability to successfully execute and implement
our
organizational realignment and the costs associated with such
organizational
realignment; loss of key personnel, including as a result of our
organizational
realignment; hostilities, including future terrorist attacks, or fear
of
hostilities that affect travel; travel-related accidents; changes in
the tastes
and preferences of our customers; relationships with associates and
labor
unions and changes in labor law; the financial condition of, and our
relationships with, third-party property owners, franchisees and
hospitality
venture partners; if our third-party owners, franchisees or development
partners are unable to access the capital necessary to fund current
operations
or implement our plans for growth; risk associated with potential
acquisitions
and dispositions and the introduction of new brand concepts; changes in
the
competitive environment in our industry and the markets where we
operate;
outcomes of legal proceedings; changes in federal, state, local or
foreign tax
law; foreign exchange rate fluctuations or currency restructurings;
general
volatility of the capital markets; our ability to access the capital
markets;
and other risks discussed in the Company’s filings with the U.S.
Securities and
Exchange Commission, including our Annual Report on Form 10-K, which
filings
are available from the SEC. We caution you not to place undue reliance
on any
forward-looking statements, which are made as of the date of this press
release. We undertake no obligation to update publicly any of these
forward-looking statements to reflect actual results, new information
or future
events, changes in assumptions or changes in other factors affecting
forward-looking statements, except to the extent required by applicable
laws.
If we update one or more forward-looking statements, no inference
should be
drawn that we will make additional updates with respect to those or
other
forward-looking statements.